Gulistan e Sarmast Housing Scheme

Today we brought details of Gulistan-e-Sarmast Housing Scheme Hyderabad for you. The potential this project holds in the real estate market of Hyderabad. Here is all what you need to know about the project. Gulistan-e-Sarmast Housing Scheme is a venture of Hyderabad Development Authority (HDA) at a prime location within the city. Gulistan-e-Sarmast Housing Scheme Hyderabad is one of the most popular and hottest housing projects in the city in addition to it more upcoming mega real estate developments are expected to be located close to it. Gulistan-e-Sarmast Housing Scheme was launched back in 2009 by the HDA at appealing rates and flexible payment plan. Three phases of this project have been launched yet. The project spans over 2,000 acres of land. Gulistan-e-Sarmast Housing Scheme featuring 36,000 residential plots in different sizes of 100 yd2, 120 yd2, 240 yd2, and 400 yd2.

Location

It is located close to Hyderabad Domestic Airport adjacent to Kohsar Extension. A dedicated road links the society with Airport Road while it is also accessible via Sarmast Road which is connect with Palh Road near Kohsar Housing Scheme. The area is hilly in nature and is higher than the ground level, giving a good view of the surrounding areas. It has been surmised among the people related to the real estate sector that land in the vicinity of Gulistan-e-Sarmast Housing Scheme has been purchased by Bahria Town for an upcoming Hyderabad project.

Development status

As it is a government-owned project, the pace of development work is bit sluggish. Development work on lying of sewerage lines has been completed by 50% throughout all the phases while the road network is complete.  Currently, two well-known universities construction is underway in this housing society with the one announced by Bahria Town a few years back. At a slow and steady pace, development work is underway throughout the project, while the developer hasn’t handed over property possession in any block or phase.

HDA machinery is perceived installed at several sites carrying out the development work, while the agents operating in this society don’t have a timeframe in mind about when property possession would be granted here. Expectedly, it will take a while before HDA can arrange for utility services for the society.

Market demand and Future potential

The plea for residential plots in this society can be assessed from the fact that there is a small premium on 120 yd2 plots in first 10 blocks of Phase I, although various plots here are presently being traded in rates lower than their launching rates. The market has more sellers for these plots than buyers while they are completely certain that property owners should hold on to their investment if they can.

The society grasps prodigious future potential first because being an HDA project, investors believe that their money will stay safe and second because they are sure that sooner or later, the project will be developed and handed over bring along major hikes in property rates.

Current Rates

Phase I of the society was launched almost 10 years ago on a three-year payment plan. Various owners are still to clear off their pending dues. It is so because the HDA doesn’t cancel the plots for which the dues aren’t clear yet. Instead of imposing a small surcharge on the owners, who do not contest this as they believe when the society will be close to seeing some major development, it will ask the owners to clear off the remaining dues.

Many plots are still being sold at their launching rates, which fall in the price range of many buyers. With road network carved out and society map made available, the rates vary from location to location. Here is the price range:

Plot Size Price Range in PKR

100 yd2 128,000 – 200,000

120 yd2 160,000 – 400,000

240 yd2 550,000 – 900,000

400 yd2 888,000 – 1,500,000

This was our update on Hyderabad’s most popular housing project.

If you are looking to seek further consultation on buying property in Gulistan-e-Sarmast Housing Scheme do contact us at Apex Group “Converting Dreams into Reality”